Nissan to cut 20,000 jobs globally

Facing persistently weak sales in major markets, Nissan Motor Co has decided to slash approximately 20,000 jobs across Japan and overseas, more than doubling the 9,000 cuts previously announced, Nikkei reported on Monday.

The reduction represents about 15 percent of Nissan's global workforce of roughly 130,000 employees and marks an escalation in the Japanese automaker's worldwide restructuring efforts.

Back in November 2024, Nissan had announced plans to cut 9,000 jobs and scale back its global production capacity by 20 percent — roughly one million vehicles — in response to declining performance. However, a widening gap between actual sales and production capacity has led the company to conclude that further personnel reductions are essential for a meaningful turnaround, Nikkei reported.

In late April, Nissan said it anticipates a net loss of up to 750 billion yen ($5.06 billion) for the fiscal year ending March 2025. Profitability is expected to remain under pressure in the current fiscal year, exacerbated by the impact of US tariff policies.

The company booked impairments exceeding 500 billion yen in North America, Latin America, Europe and Japan after conducting a thorough review of production assets.

Nissan is scheduled to release its full-year financial results on Tuesday, when it is also expected to provide details of its broader restructuring plan, including the expanded job cuts.

jiangxueqing@chinadaily.com.cn